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Caspian Region News

15 Feb 2019

EIA: Azerbaijan Surges in Natural Gas

Azerbaijan is an important supplier of crude oil and natural gas in the Caspian Sea region, particularly to European markets, the US Energy Information Administration said in its report.The EIA’s report notes that Azerbaijan’s exports of natural gas are poised to become a more significant part of the country’s economy.Azerbaijan produced about 600 billion cubic feet (Bcf) of dry natural gas in 2017 and exported about 210 Bcf, according to EIA’s International Energy Statistics.“Azerbaijan is planning to expand its natural gas exports to Europe. European Union leaders consider connecting Azerbaijan’s Shah Deniz natural gas field to Southern Europe to be a step toward the strategic goal of diversifying Europe’s natural gas supply.

18 Apr 2018

Damen Delivers Third Shoalbuster to Kazmortransflot

Damen Shoalbusters 2709 TALAS and EMBA (Photo Tijmen Kielen / Damen Shipyards Damen)

National Maritime Shipping Company Kazmortransflot LLP has taken delivery of its third Damen Shoalbuster 2709, the last in the current order.The vessels are ideal for operations in the shallow waters of the Caspian Sea and are now playing a role in the development of oil fields in the Kazakh section of the inland sea and significantly expanding the range of services that Kazmortransflot can offer its clients. The contracts for the three Shoalbusters 2709 were signed in July 2017 between Damen, NMSC Kazmortransflot LLP and Al Hilal Islamic Bank, which arranged the Sharia compliant financing.

30 Dec 2017

Azerbaijan, Russia Introduces New Cruise

The Chairman of Azerbaijan Caspian Shipping Company (ACSC) Rauf Veliyev and Konstantin Anisimov, the General Director of Moscow River Shipping Company (MRSC) signed in Baku a memorandum of cooperation in cruise shipping in the Caspian region with the use of the new cruise passenger vessel "Peter the Great". The agreement was signed during the visit of the Russian delegation headed by Konstantin Anisimov to Baku. The agreement provides for joint activities on study and development of optimal routes for cruise passenger vessels, such as ports of the Black Sea - inland waterways of the Russian Federation - Astrakhan - ports of the Caspian Sea; Moscow-Baku; Astrakhan - Makhachkala - Baku; Baku-Anzali- Nowshahr -Turkmenbashi-Aktau-Astrakhan and others.

18 Sep 2017

Palmali Lodges $2 Bln Claim Against Lukoil's Litasco

Turkey-based Palmali, one of the biggest shippers in the Caspian region, said on Monday it had lodged a claim worth almost $2 billion against Litasco, the trading arm of Russian oil producer Lukoil, with the English High Court. "The claim concerns an alleged failure by Litasco S.A. to provide contractual quantities of cargo under long term contract between the companies," Palmali said in a statement sent to Reuters.   Reporting by Nailia Bagirova; writing by Vladimir Soldatkin

08 Sep 2017

Subsea Construction Vessel Launched in Azerbaijan

Designed by Keppel Offshore & Marine and built by Baku Shipyard, the state-of-the-art subsea construction vessel, Khankendi, will install the biggest subsea production system in the Caspian Sea (Photo: Keppel)

The vessel was named Khankendi by the President of Azerbaijan, H.E. Ilham Aliyev, at a ceremony in Baku Shipyard and launched by the Shah Deniz consortium. Baku Shipyard LLC, a joint venture between Keppel Offshore & Marine Ltd (Keppel O&M), State Oil Company of Azerbaijan Republic (SOCAR) and Azerbaijan Investment Company (AIC), has completed a Subsea Construction Vessel (SCV) for the Caspian region. The Khankendi will be deployed to the Shah Deniz field where it is expected to perform subsea installation and construction work over the next eleven years.

01 Mar 2017

Offshore Innovation: A Real ‘Riverboat’

Image: Vard

Central Asia is a booming oil region not far from the Persian Gulf. Energy companies ply the big lake to rack up staggering barrel counts at elephantine oilfields with names like Tengiz (Kazakhstan) or Kashagan (Azerbaijan). Painstaking, oil-fueled nation-building is underway across an oil province, where very shallow water hinders plant and equipment moves by platform supply vessels. Until now — new module-carrying vessels, or MCVs will float high-capital cargoes through Russia’s river system and across the Caspian shallows to Chevron’s Tengiz Extension project.

18 Aug 2016

Vard Secures Contract for Three Module Carrier Vessels

Vard Holdings Limited announced that it has secured a contract for the design and construction of three Module Carrier Vessels for Kazmortransflot (KMTF). The contract win was previously disclosed on July 29, 2016. The vessels, of VARD 9 28 design, will be operated by KMTF through a consortium led by Blue Water Shipping. The vessels, measuring 113 by 22 meters, are designed for transport in the Caspian Sea. All three vessels will be built at Vard Braila in Romania. Delivery is scheduled between 3Q 2017 and 1Q 2018. The aggregate contract price is approximately $70 million. The National Maritime Shipping Company “Kazmortransflot” is the National Maritime Carrier of the Republic of Kazakhstan.

01 Jun 2016

OEG Acquires AOR Containers

John Heiton (Photo: OEG)

Offshore Cargo Carrying and A60 module company OEG Offshore (OEG) is moving into Norway, Congo and Myanmar for the first time, with its acquisition of AOR Containers, a major player in Europe, Africa and Asia. The move makes OEG Offshore the second-largest provider of offshore cargo carrying units (CCUs) in the world, with the addition of AOR’s international fleet of 6,000 units taking OEG Offshore’s total fleet to 25,000 units. AOR’s fleet matches the exacting specifications achieved across OEG Offshore’s operations…

12 May 2016

Vard Secures Topaz 15 vessel Contract

Vard Holdings Limited secured a contract for the design and construction of 15 Module Carrier Vessels for Topaz Energy and Marine. The vessels, of VARD 9 21 design, are specially developed by Vard Design to navigate the shallow river systems as they transport modules through the Russian waterways to oilfields in Kazakhstan. Measuring 123 by 16.5 meters, the vessels are designed to carry high deck loads of up to 1800 tons. The vessels will be operated by Topaz through a consortium led by Blue Water Shipping for the end-client Tengizchevroil. Five of the vessels will be built at Vard Braila and four at Vard Tulcea in Romania, while the remaining six will be built at Vard Vung Tau in Vietnam. Delivery is scheduled between 3Q 2017 and 2Q 2018.

28 Mar 2016

Topaz Energy and Marine Net $ 20.8m Profit

Topaz Energy and Marine, a leading offshore support vessel company, today announces its results for the year ended 31 December 2015. * Net Profit for the period was US$ 20.8m before exceptional items, impairment charge of US$71 million on vessels and a one-off charge of US$8.3 million associated with debt re-financing. * The key Caspian region continued to perform strongly with robust core fleet vessel utilization of 96% (94% in 2014). Topaz signed long-term contracts with BP in the Caspian, further strengthening contract backlog and long-term earnings visibility. * Proactive focus on cost management contributed to mitigation of the EBITDA reduction. * Continued rigorous cash management program; focus on working capital cycle as well as deferring non-essential capex.

14 Mar 2015

Azeri LNG Hub in Malta

Malta and Azerbaijan have signed a memorandum of understanding (MoU) to collaborate on the development of a gas hub which would cater for local and international markets, reports the Times of Malta. The MOU targets strategic collaboration in the oil and gas sector as part of the government’s vision to transform energy and petroleum sectors into key value added economic activities. To this end, both sides identified a number of key areas. The European Union is also looking southwards to develop a “southern gas corridor” for natural gas from Azerbaijan to fuel the European mainland. A key policy that also ties in with the Maltese government’s prospective energy shift to gas…

25 Jun 2014

OEG Offshore Acquires OSCA Environmental Services

Osca regional director Donald Guthrie, OEG CEO John Heiton, Osca Chairman Bob Smith at OEG's base at Dyce, Aberdeen (Credit OEG)

Cargo-carrying unit, OEG Offshore, announced its gain of OSCA Environmental Services Ltd., saying the acquisition expands its international reach in the Caspian region. OEG has acquired OSCA's 2,500-unit stock has multiple bases including: Baku, Azerbaijan and Aktau, Kazakhstan, and Turkmenistan. Additional stocking locations include: Sakhalin, Russia, Gabon, Congo and Angola. This acquirement is OEG’s second major global move in less than two months, following the establishment of a Joint Venture with Unique Maritime Group, providing offshore equipment for rental and sale in the ME.

16 Jun 2014

U.S. Must Answer Russia's Challenge In The Arctic - Treadwell

Russian President Vladimir Putin's Arctic expansionism is a challenge the U.S. must answer with icebreakers, ports, and territorial claims of our own, Lt. Governor Mead Treadwell said today. Treadwell spoke this morning at the 34th Annual U.S.-Russia Forum in Washington, DC, on a panel focusing on foreign policy issues between the two nations. Speaking just after Russia's Ambassador to the U.S., Sergey Kislyak, kicked off the program on foreign policy issues between the two nations, Treadwell talked about the need for cooperation with Russia despite disputes over Crimea and Ukraine, Syria and Iraq, which have brought U.S.-Russia relations to their lowest point in decades. “My challenge to Russians is this: where we are neighbors, help bring our relations back to normal.

10 Mar 2014

Aquina Named CEO at Hertel

Victor Aquina

Hertel hereby announces that Victor Aquina, currently Managing Director of the Hertel Caspian region and the former CEO of Nacap, will be appointed as CEO of Hertel as of 1 April 2014. He will succeed Paul Broekhuijsen who will leave the company as of April 1. Paul Broekhuijsen joined Hertel in April 2011 as CEO and has led the company through a major reorganization these last few years. The Supervisory Board is very grateful to Paul Broekhuijsen for his great contribution to the recovery of Hertel. ‘In 2011 we asked Paul to lead Hertel through a necessary recovery process.

04 Feb 2014

Saltire Energy Invests £5M in Aberdeen

Photo: Saltire Energy

Saltire Energy has announced plans to expand its operations in Aberdeen following a £5 million investment in a 2.6-acre site in Badentoy, Portlethen. Planning permission has been secured for 4,650 sq. ft. of offices, a 12,500 sq. ft. warehouse and a 12,500 sq. ft. workshop on the new site with approximately 75,000 sq. ft. of additional open storage space. The company will retain its two existing facilities which are 10,500 sq. ft. and 22,550 sq. ft. on Badentoy Road in Portlethen and the warehouse space which the company currently leases in Tullos, Aberdeen will also move to Portlethen.

05 Aug 2013

Topaz Expands Caspian Presence

Caspian Provider, a 6,300 BHP platform supply vessel operating in Topaz’s Caspian fleet

Topaz Energy and Marine, an offshore support vessel owner with primary operations in the Middle East and Caspian, announced that it has secured new multi-year charters in the Russian Filanovsky project for nine of its offshore support vessels amounting to approximately $20 million. The vessels have been deployed to offshore contractor Saipem and will support the development of the Filanovsky oil and gas field in the Northern Caspian Sea. The vessels will provide anchor-handling and tug services as well as transport of supplies and personnel.

05 Jul 2012

EnerMech Targets India in Latest Expansion

Steve Watson, Country Manager India, EnerMech Ltd

Mechanical engineering specialist, EnerMech, is to open its first office in India as a first step in developing a presence in the country’s fast expanding oil and gas sector. The Mumbai office, headed up by newly appointed Country Manager Steve Watson, will be followed with the opening of a workshop and storage facility in Kakindada, Andrah Pradesh region, by the end of 2012. EnerMech believes its Process, Pipeline and Umbilicals, Cranes and Lifting, Engineering and Valves Divisions can add value to exploration and contractor companies operating in the region.

28 May 2010

Northern Offshore Q1 2010 Results

Northern Offshore, Ltd. (Oslo Bors: NOF.OL) reported net income for the three months ended March 31, 2010 of US$23.2 million, or US$0.15 per diluted share, on revenues of US$68.1 million. This compares to net income of US$3.6 million, or US$0.02 per diluted share, for the first quarter of 2009, on revenues of US$56.6 million. Net income for the prior year quarter included a US$3.7 million charge to bad debt expense. Excluding that charge, first quarter 2009 net income would have been US$7.3 million, or US$0.05 per diluted share. Revenues for the three months ended March 31, 2010 increased US$11.5 million compared to the same period of 2009.

08 Mar 2011

McDermott forms Strategic Alliance with SOCAR, Azerbaijan’s State Oil Company

McDermott International, Inc. (NYSE:MDR) (“McDermott”), announced today that one of its subsidiaries, McDermott Caspian Contractors, Inc., and the State Oil Company of the Azerbaijan Republic (“SOCAR”) have formed a strategic alliance to implement a major pipelay and diving services contract in the Caspian region. The contract was recently awarded to McDermott in Azerbaijan as part of further development of the Azeri, Chirag and Deepwater Gunashli (“ACG”) field in the Azerbaijan sector of the Caspian Sea.

20 Jun 2011

Statoil: Long-Term Outlook Bright

Helge Lund, president and CEO (Source: Statoil)

Today, Statoil (OSE: STL, NYSE: STO) presented its long term growth outlook. The company expects to raise production from around 1,9 million barrels in 2010 to above 2.5 million barrels of oil equivalents per day in 2020. With premium positions on a revitalised Norwegian Continental Shelf (NCS) and a world class project portfolio, Statoil is positioned to deliver strong shareholder returns. Celebrating its ten years anniversary as a publicly listed company, Statoil expands on its outlook for the coming years at the Capital Markets Day at the New York Stock Exchange.

29 Jun 2011

Hornbeck Offshore New Directors, Promotion of Exec Officer

Hornbeck Offshore Services, Inc. (NYSE: HOS) announced today that John T. Rynd and Kevin O. Meyers, Ph.D. have been appointed to its Board of Directors (the "Board"), effective June 23, 2011. Mr. Rynd and Dr. Meyers were appointed to fill the vacancies created by a prior resignation and the Board's decision to increase the number of its directors from seven to eight members. In addition, at the Company's Annual Meeting on June 23, 2011, the shareholders reelected Todd M. Hornbeck and Patricia B. Melcher to the Board. John T. Rynd. Since June 2008, Mr. Rynd, 54, has served as the Chief Executive Officer and President, and as a director, of Hercules Offshore, Inc. (NASDAQ: HERO), a publicly traded global provider of offshore contract drilling, liftboat and inland barge services.

22 Sep 2011

Reflex Marine Launches First Accredited Service Center

Expert in marine personnel transfer Reflex Marine has launched a global accredited service centre programme, for its FROG and TORO devices, to ensure uniformly high standards of maintenance and safety for its clients. The first of the accredited service centres has been established in Dubai and will significantly increase the level of support given to new and existing clients in the Middle East. Enermech FZE has been appointed as the first accredited service centre and distributor…

01 Dec 2011

EnerMech Service Center Established for Reflex

EnerMech AS/Image: Reflex Marine

Reflex Marine has established an accredited service centre (ASC) in Norway for its industry-leading FROG and Toro personnel carriers. The company has appointed mechanical engineering specialist EnerMech AS as the accredited service center in the region. As part of an ongoing program Reflex Marine has established accredited service centers in the UAE, Canada and the Caspian region, and plans to establish further centers in Singapore, the US and Brazil. Reflex Marine’s FROG personnel…